Last modified: 31 May 2022 13:05
Housing is a necessity and of interest to economists, policymakers, and investors alike. In this course, students will gain an understanding of the micro and macro-economic dimensions of housing markets. The course will also discuss the many different ways in which governments intervene in housing markets, such as land use regulation, rental law, and social housing support. The positive and normative aspects of these interventions will be discussed. The course has a comparative perspective throughout and discusses housing markets, regulation, and outcomes at hand of the UK, the US and Germany.
| Study Type | Undergraduate | Level | 4 |
|---|---|---|---|
| Term | Second Term | Credit Points | 30 credits (15 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
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The course starts with a benchmark model for the housing market, where actors have complete information and perfect foresight. The model is used to examine the interaction between user, asset, and development market in a frictionless setting. After that, the strong assumptions are relaxed, leading to the examination of search in the housing market, the discussion of submarkets, and an analysis of the decision on tenure choice and mortgage financing. This is followed by a discussion of government intervention in housing markets: rent controls, land use regulation, differential taxation of tenure models and assets, provision of social housing. The welfare implications of such interventions are discussed. The course finishes with an examination of housing and the macroeconomy.
Information on contact teaching time is available from the course guide.
Alternative Assessment
2x 2,000-word Essays (50% each)
Alternative Resit Assessment
Release of brief with overarching topic and three questions related to it (100%)
There are no assessments for this course.
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Factual | Remember | ILO’s for this course are available in the course guide. |
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